finance & economy

The Lifestyle Expo in Dubai is being held to foster business collaboration between Hong Kong, the Chinese mainland and the UAE as well as the rest of the Middle East-Africa, MEA, region, helping companies seize the enormous business opportunities emerging from China’s Belt and Road Initiative and Expo 2020 Dubai.

Jointly organised by the Hong Kong Trade Development Council, HKTDC, and the Trade Development Bureau of the Ministry of Commerce of the People’s Republic of China, the fifth edition of the Lifestyle Expo opened today at the Hyatt Regency Dubai.

Dubai Aerospace Enterprise, DAE, has announced the appointment of Jeff Wilkinson as Chief Executive Officer of its subsidiary company, Jordan Aircraft Maintenance, Joramco.

Wilkinson was most recently Chief Executive Officer of Etihad Airways Engineering based in Abu Dhabi, responsible for several core business functions including Airframe and Component maintenance services, Supply Chain Management, Design Engineering, CAMO, Line and Light maintenance.

Prior to joining Etihad, Jeff played a key role as Head of Base and Line Maintenance for Swiss International Airlines,"...

Juma Mohamed Al Kait, Assistant Under-Secretary of the Foreign Trade Sector at the Ministry of Economy, drew attention to UAE-Chinese relations that continue to witness significant developments, especially in the trade and investment sectors, as 60 percent of China's trade to Africa and Europe passes through the UAE while the value of their trade exchange is expected to reach US$50 billion by 2020.

In his statements that were made today, Al Kait said that the UAE’s hosting of the fifth edition of the China Trade Week confirms that it has become the major centre of trade in the region while also promoting China’s position as one"...

(AETOS Wire)-- The emergency.lu Rapid Response Kit has been deployed by the Government of Luxembourg to provide vital satellite-enabled connectivity to the coordination center in Dominica, following the devastation brought by the Category 5 Hurricane Maria, announced SES and its partners today. The connectivity provided on an SES satellite is used for broadband and voice communication, to ensure that emergency services and first responders can stay informed and"...

KONE, a global leader in the elevator and escalator industry, announces its 5th annual social media competition “Name the KONE Reference” in Middle East and North Africa. The KONE team invites you to have a look at the videos posted on the social media pages, KONE Middle East and North Africa on Facebook and KONE_MENA on Instagram and identify the popular KONE Middle East references in those videos.

“KONE equipment are found in some of the most iconic landmarks in the Middle East and across the globe. We are keen to identify the people that are aware of the famous building names and inform"...

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the distribution center by Volkswagen AG, Germany (“VW Property”).

The VW Property was acquired in December 2014 with an objective of producing an average annual yield of 8.25% to investors, and an IRR of around 10% over a three-year holding period. The Property was leased entirely to Rudolph Automotive Logistik"...

(AETOS Wire)-- ABB and Northvolt have signed a Memorandum of Understanding (MOU) for a wide-ranging supply and technology partnership, including products and services for Northvolt’s state-of-the-art lithium-ion battery factory and close collaboration on development of battery solutions and R&D activities. ABB Technology Ventures (ATV) will support the initial phase of this project through an early investment.

Northvolt is going to build Europe’s largest and most advanced lithium-ion battery factory in Sweden. Supported by ABB’s industrial automation expertise, integrating robotics,"...

Businesses that register to operate within Dubai Airport Freezone will also be licenced to operate onshort in the emirate, following an agreement between the free zone authority and Dubai Government.

Dubai Airport Freezone Authority (Dafza) has signed a memorandum of understanding (MoU) with the Department of Economic Development (DED) to allow Dafza-hosted companies to obtain dual licenses to operate across Dubai.

The MoU is part of intensified efforts between Dafza and DED to support a more flexible approach to driving investment, the two parties said in a joint"...